Jet Airways defers March salary payment to its 16,000 employees

On March 25, Jet Airways board had approved a resolution plan formulated by SBI-led domestic lenders, under which had agreed to infuse an emergency funding of Rs 1,500 crore into the airline, and convert the same into equity worth 50.1 percent for a notional value of just Re 1 each share.

Jet Airways said it is making every ?possible effort? to remit salaries at the earliest, adding, ?we will provide you an update on the status of the pay-out by April 9 2019.?